Running a charity or a voluntary sector organisation can be a truly fulfilling experience. It means that you have devoted your time and energy to empowering those in need. While your work is rewarding, it also comes with unique challenges of its own.
Charity operators usually rely on a team of employees and volunteers to manage the day to day affairs. If you are running a charity or a not-for-profit organisation, you are responsible for the wellbeing of your staff, recipients, volunteers and even members of the public.
That is exactly why charity shop insurance is important. The right set of covers can help you protect your charity’s staff and recipients as well as property and reputation.
IC Insurance Solutions can help you with that. Our experts have an in-depth understanding of the complexities, risks, and challenges associated with charity organisations. Our bespoke and flexible charity shop insurance packages can safeguard your charity against unforeseen events and give you the peace of mind you deserve.
Let’s look at what charity insurance is and how it can protect your charitable organisation.
What is Charity Insurance?
Charity liability insurance, also known as charity shop insurance, consists of a combination of covers that protect and financially cushion small charities, voluntary sector organisations, local community groups and non-profit organisations against claims, risks, and unforeseen eventualities.
Standard business insurance does not factor in the complexities involved in running a charity and often fails at providing adequate coverage to nonprofit organisations. Unlike businesses, charities depend on the support of volunteers as well as employees. Charities also differ from businesses because they frequently organise events such as fundraisers.
Insurance for charitable organisations takes into account the specific challenges voluntary sector organisations face and offers a more targeted cover that helps mitigate the unique risks charities encounter while operating.
Charity shop insurance policies by IC Insurance Solutions can provide comprehensive coverage against a wide range of risks, from an accident or an injury during a fundraiser to an allegation of wrongdoing against the organisation.
What Does Charity Shop Insurance Cover?
Our key covers include:
A comprehensive cover that protects buildings, content as well as stock. If your charity premise is damaged by an insured event, property insurance would cover the cost of rebuilding or repairing the building. It would also cover contents (including appliances and furniture) and stock against theft or damage.
A specialized insurance policy that covers events such as promotional talks and fundraisers organized by your charity.
Public Liability Insurance
Public liability insurance covers compensation payouts and the cost of legal defense if a member of the public files an injury, accident or property damage claim against your charity.
Employers Liability Insurance
You are responsible for the safety and protection of your employees and volunteers. If a volunteer sustains an injury or contracts an illness while working for your charity, they can take legal action against you.
Employers liability insurance, a legal compulsion in the UK, covers medicolegal costs and compensation payouts if a claim is filed against your charity by an employee or a volunteer.
Also known as trustee liability insurance, trustee insurance covers the cost of legal defense, settlement or compensation payouts in case a claim is filed against trustees, officers, employees or volunteers for making errors or omissions in the management and administration of a charity.
What Types of Charities Can IC Brokers Insure?
We offer bespoke charity shop insurance packages for charities working with:
- Children and young people
- Environment and conservation s
- Health and Medical
- Homelessness and social welfare
- Old people
- Overseas aid and development
About IC Insurance Solutions
IC Insurance Solutions is a vibrant and enthusiastic insurance intermediary with a passionate team comprising of experienced insurance experts and seasoned brokers. We know the market inside out and our strong partnership with insurance providers enables us to provide comprehensive coverage to you at a competitive price.